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Aug 06 - 05:00 PM
NZD: Neutral Vs USD N-Term But Could Look To Play Shorts On Crosses M/Term - ANZ
First appeared on eFXplus on Aug 06 - 03:30 PM

ANZ discusses NZD outlook and adopts a neutral bias in the near-term but sees a scope to consider playing shorts on crosses in the medium-term.

"Last week we felt that the NZD had the potential to do a little better in the near-term, in part due to positioning and a USD that was looking closer to fully priced; but today we have less conviction in that.

A deteriorating domestic growth picture, together with ongoing concern over trade and global growth make it hard to get too upbeat. But does this see a meaningful break lower against the USD? We’re not so sure, and think the crosses are a better way to play this story," ANZ argues. 

Source:
ANZ Research/Market Commentary

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